Community Bank System, Inc. (NYSE:CBU) – Stock analysts at Boenning Scattergood increased their FY2017 earnings estimates for Community Bank System in a research note issued on Monday. Boenning Scattergood analyst M. Schultheis now forecasts that the bank will earn $2.63 per share for the year, up from their previous estimate of $2.60. Boenning Scattergood also issued estimates for Community Bank System’s Q1 2018 earnings at $0.68 EPS, Q2 2018 earnings at $0.68 EPS, Q3 2018 earnings at $0.69 EPS, Q4 2018 earnings at $0.68 EPS and FY2019 earnings at $2.80 EPS.

Community Bank System (NYSE:CBU) last issued its quarterly earnings data on Monday, October 23rd. The bank reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.06. Community Bank System had a return on equity of 9.22% and a net margin of 21.00%. The firm had revenue of $137.30 million during the quarter, compared to the consensus estimate of $138.74 million. During the same period in the previous year, the firm posted $0.61 EPS. The company’s quarterly revenue was up 26.7% compared to the same quarter last year.

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Several other research analysts have also weighed in on the company. Piper Jaffray Companies reiterated a “hold” rating and issued a $51.00 price objective on shares of Community Bank System in a research report on Thursday, August 3rd. Zacks Investment Research upgraded Community Bank System from a “hold” rating to a “strong-buy” rating and set a $58.00 price objective for the company in a research report on Tuesday, September 12th. BidaskClub lowered Community Bank System from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $54.00 price objective on shares of Community Bank System in a research report on Friday, October 13th. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Community Bank System in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $53.83.

Community Bank System (NYSE:CBU) opened at 53.74 on Wednesday. Community Bank System has a 12 month low of $45.79 and a 12 month high of $63.04. The company’s 50 day moving average price is $53.75 and its 200 day moving average price is $54.55. The firm has a market capitalization of $2.72 billion, a P/E ratio of 25.70 and a beta of 1.10.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CBU. LS Investment Advisors LLC boosted its position in shares of Community Bank System by 8.2% during the second quarter. LS Investment Advisors LLC now owns 1,814 shares of the bank’s stock worth $101,000 after buying an additional 137 shares during the period. Cutler Group LP boosted its position in shares of Community Bank System by 118.7% during the second quarter. Cutler Group LP now owns 2,016 shares of the bank’s stock worth $112,000 after buying an additional 12,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Community Bank System by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,080 shares of the bank’s stock worth $116,000 after buying an additional 174 shares during the period. Pacad Investment Ltd. purchased a new position in shares of Community Bank System during the second quarter worth $139,000. Finally, Riverhead Capital Management LLC boosted its position in shares of Community Bank System by 104.4% during the second quarter. Riverhead Capital Management LLC now owns 2,862 shares of the bank’s stock worth $160,000 after buying an additional 1,462 shares during the period. Institutional investors and hedge funds own 68.96% of the company’s stock.

In other news, Director Brian R. Ace sold 5,457 shares of the firm’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $53.35, for a total transaction of $291,130.95. Following the completion of the transaction, the director now directly owns 55,647 shares in the company, valued at $2,968,767.45. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director R Kallet Michael sold 5,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $53.00, for a total value of $265,000.00. Following the transaction, the director now owns 11,603 shares of the company’s stock, valued at $614,959. The disclosure for this sale can be found here. Insiders sold 20,457 shares of company stock valued at $1,085,081 over the last quarter. 3.20% of the stock is currently owned by company insiders.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 10th. Investors of record on Friday, September 15th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.53%. This is a positive change from Community Bank System’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, September 14th. Community Bank System’s dividend payout ratio is presently 62.10%.

Community Bank System Company Profile

Community Bank System, Inc is a bank holding company. The Company owns two subsidiaries: Community Bank, N.A. (CBNA or the Bank) and Benefit Plans Administrative Services, Inc (BPAS). It operates in three segments: banking, employee benefit services, and All Other. The Banking segment provides lending and depository-related products and services to individuals, businesses and municipal enterprises.

Earnings History and Estimates for Community Bank System (NYSE:CBU)

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